|To: Jimsy who wrote (6)||4/30/1998 9:01:00 AM|
NEWS RELEASE - fantastic reults|
VETTA VENTURES INC.
ROREX EXPLORATION INC.
303 - 1080 Howe Street Telephone: (604) 730-8620
Vancouver, B.C. V6Z 2T1 Facsimile: (604) 730-8621
Trading Symbol: VET RRX
April 29, 1998
OCAMPO ASSAY RESULTS
Vetta Ventures Corp. and Rorex Exploration Inc. are pleased to announce results of sampling completed by Mr. Baltazar Solano, of Behre Dolbear & Company Inc., and Peter Lewis, of Lewis Geoscience Services Inc. during a recent visit to the Ocampo Project located in western Chihauhau, Mexico. Baltazar Solano accompanied Mr. George Norman, P. Geo., of Churchill Resource Group Inc., project manager of the Ocampo Project, to review the geology of the property and to discuss the proposed upcoming exploration program. Peter Lewis was commissioned to complete a structural study of the project and to develop geological controls on mineralization within the epithermal vein system which will assist in the planning of the drilling phase of the exploration program.
A sample taken at the current working face of the Brenda Mine ( Jesus Maria vein) by Behre Dolbear returned 12.38 g/t Au (0.36 oz/t Au) and 907 g/t Ag (26.5 oz/t Ag) over a width of 2.8 meters. The sample was analyzed by Chemex Labs, Vancouver using 30 gram fire assay gravimetric techniques. Check assays were performed by Bondar Clegg who confirmed the data returning 12.62 g/t Au and 948.4 g/t Ag. Even at today's low gold prices the total dollar value per tonne of ore at approximately $275 US makes this type of high grade underground mining venture a very attractive situation.
Preliminary reporting from Peter Lewis suggests that controls on gold-silver mineralization have both a lithologic and structural component with displacement transfer zones between through-going faults and competent porphyritic andesite being important factors for controlling the placement of precious metal ore shoots.
The first batch of samples submitted for analysis to Chemex Labs by Peter Lewis has been received and the highlights and comments are given in the attached table and in the following section.
The Veta Tierra vein is within the Brenda Mine area and is contained within a parallel structure to the above mentioned Jesus Maria vein. The two structures are approximately 23 meters apart. Sampling between the structures on Level 1 has given an average grade of 1.47 g/t Au over 18.2 m, with the Veta Tierra vein averaging 10.52 g/t Au and 243 g/t Ag over 2.8 m. A grab sample of matrix breccia with clay altered clasts returned high grade results of 89.76 g/t Au and 1,795 g/t Ag. The above mentioned Jesus Maria vein sample from the working face is located approximately 15 m below Level 1and approximately 30 m southeasterly from the Veta Tierra vein samples.
The Las Animas structure was sampled at surface approximately 300 m south of the current production face at the Brenda Mine. The zone was sampled obliquely to the true width of the structure over 45 m and averaged 2.81 g/t Au and 87 g/t Ag over a true width of 22.5 m. The zone remains open on the hanging wall side of the structure. These types of precious metal grades over substantial widths suggest that the bulk tonnage lower grade target is also worth pursuing at Ocampo.
The Maria vein was sampled at surface over a 150 m strike length with results up to 16.08 g/t Au and 255 g/t Ag over a true width of 1.2 m. Underground sampling of the vein by Baltazar Solano reported 22.4 g/t Au over 1.8 m reported within the Behre Dolbear qualifying report dated November 1997. The Maria vein target area is ready for drilling with only minor road work to be accomplished to allow for drill access. An area that has generated much interest and which is an excellent drill target is the intersection zone between the Jesus Maria structure (currently being mined by Brenda Mines) and the Maria vein.
Vetta Ventures has also optioned a 70% interest in additional property in the Ocampo area and more particularly, two claim groups to the west of the Ocampo town-site known as the La Cruz and Ampliacion (also known as the Cinco de Mayo area). The purchase price for the claims is $250,000 and 200,000 Vetta common shares of which $50,000 has been advanced as a refundable deposit pending a property inspection.
The Cinco de Mayo vein was sampled on a brief visit by George Norman, Baltazar Solano and Peter Lewis to the Cinco de Mayo claim which is located approximately 3.5 km to the west and north of the Brenda Mine area. A pillar within old workings was sampled and contains abundant free gold up to 2 mm in length within grey silica quartz silicification and minor quartz veins. The vein was mined down to a depth of approximately 50 m in the mid 1950's and has seen no work since that time.
A table of results of the sampling program described above follows:
OCAMPO PROJECT ANALYTICAL RESULTS
Chemex Labs Bondar Clegg
Field Number Area/ Structure Width (m) True Width Au g/t Ag g/t Au g/t Ag g/t
98-oc-15 a Las Animas 1.4 1.2 3.33 258
98-oc- 15 b Las Animas 2.4 2.1 4.83 325
98-oc-15 c Las Animas 1.7 1.7 7.37 187
98-oc-18 Cinco de Mayo 0.5 0.5 91.95 15 89.57 15.3
98-oc-25 a Tierra X-Cut 2.0 2.0 4.05 47
98-oc-25 b Tierra X-Cut 2.0 2.0 1.20 31
98-oc-25 c Tierra X-Cut 2.0 2.0 1.75 16
98-oc-25 a,b,c ave Tierra X-Cut 6.0 6.0 2.33 21
* 98-oc-26 a Veta Tierra 1.8 1.8 15.39 259 15.98 305.4
* 98-oc-26 b Veta Tierra 1.0 1.0 1.78 150
* 98-oc-26 a,b ave Veta Tierra 2.8 2.8 10.52 243
* 98-oc-26 c Veta Tierra Grab 89.76 1,795 90.51 1,827.70
* 98-oc-28 c Tierra X-Cut 2.0 2.0 3.94 241
* 98-oc-29 a Jesus Maria 1.2 1.2 1.27 45
* 98-oc-29 b Jesus Maria 0.9 0.9 0.62 27
* 98-oc-29 c Jesus Maria 0.8 0.8 3.94 166 4.17 172.3
* 98-oc-29 a,b,c ave Jesus Maria 2.9 2.9 1.8 73
98-oc 38 a Las Animas 5.0 2.5 7.13 248 6.96 264.7
98-oc 38 b Las Animas 5.0 2.5 2.19 59
98-oc 38 c Las Animas 5.0 2.5 0.86 39
98-oc 38 d Las Animas 5.0 2.5 1.68 85
98-oc 38 e Las Animas 5.0 2.5 1.17 33
98-oc 38 f Las Animas 5.0 2.5 4.56 84
98-oc 38 g Las Animas 5.0 2.5 3.12 74
98-oc-38 h Las Animas 5.0 2.5 1.03 64 1.19 64.9
98-oc-38 I Las Animas 5.0 2.5 3.53 95
98-oc-38 a to i ave Las Animas 45.0 22.5 2.81 87
98-oc-39 a Jesus Maria 1.0 1.0 5.42 200
98-oc-39 b Jesus Maria 1.2 1.2 8.9 142 9.23 148
98-oc-39 c Jesus Maria 4.7 4.7 0.82 33
98-oc-39 a,b ave Jesus Maria 2.2 2.2 7.32 168
98-oc-39 a,b,c ave Jesus Maria 6.9 6.9 2.89 76
98-oc-45 Maria 2.0 1.8 2.95 101
98-oc-46 Maria 2.0 1.2 16.08 255 15.1 241.4
98-oc-47 Maria Splay 0.8 0.7 1.23 12
98-oc-48 Maria 1.8 1.8 2.85 76
98-oc-49 Maria Splay 1.1 1.1 1.37 48
98-oc-51 Jesus Maria 2.0 2.0 2.23 < 3
98-oc-59 Jesus Maria 1.6 1.6 4.39 28
* indicates underground samples
Preparations are under way to produce 1:5000 and 1:2000 scale topographic maps in order complete the geological mapping program recommended to assist in planning the upcoming drill phase.
Vetta and Rorex together have an agreement to purchase a 60% interest in the Ocampo claims, which purchase has not yet closed.
Management also announces that due to the considerable number of requests for information about the Company's work program on the Ocampo claims, the Company has retained the services of Ion Media Group to assist the Company with its corporate communications. The Company has agreed to pay Ion Media Group the sum of $3,000 per month, on a month by month basis as required. The Ion Media Group is a full service media relations organization with many years of experience in electronic communication specializing in corporate communications. Additionally, the group has strong ties to the mining industry and the investment community. Ion will assist the Company with the dissemination of news releases and responding to enquiries from the investing public. For additional information call Ion Media Group at 604-728-6929.
On behalf of the Board of Directors,
The Vancouver Stock Exchange has neither approved nor disapproved of the form or contents of this release.
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|To: Jimsy who wrote (8)||4/30/1998 9:13:00 AM|
Kudos to you Jimsy - you were all over this one and let us all know - I have had it on the ticker for a few days - I did not buy any - As I am not very good at reading these even though the numbers look good - has any of this already been built into the price.|
we have seen time and time again that th results never seem to meet the expectations of the very fussy market. Obviously I will be watching closely. If it does fly - I hope noone minds if I climd on to the bandwagon and help ye all celebrate.
I figure that before too long we might see a certain person from Georgian bay crashing the party. Especially if it moves as I know he is watching and lurking
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|To: Buckey who wrote (9)||4/30/1998 12:05:00 PM|
John or Jimsy|
Investor Line would not recognize the RRX symbol ,so I put in an order for the vet instead, I hope they are equal in this play
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|To: Buckey who wrote (12)||4/30/1998 3:39:00 PM|
John L - know anything about Ion Media Group, who they have represented in the past, good or bad, why would there be a complication? Somebody get so excited about the results that they jump the gun, you know everyone supposed to get outa da gate at the same time in a race.|
May be a concern for the IR group, but good for shareholders, but never know do we?
It was a nice chart under accumulation, wonder if who was accumulating is the problem. Wasn't me anyway, I just noticed the trading pattern on the weekend, running through the charts with Chartsmart, a really neat program.
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|To: Jimsy who wrote (14)||4/30/1998 3:42:00 PM|
NO I have never heard of them - at least not that I can remember - ( I have a good memory but it is short).|
Odd halt - The stocks were just bouncing around on a few trades after the NR - maybe the group is not approved or something. Why would they have to halt it?????????
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